{
Dr. Clare McAndrew

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emerging artists and local galleries reshape the art market in 2024

In 2024, high-net-worth individuals are increasingly investing in emerging artists and local galleries, with 52% of their spending directed towards new talents. Despite a 32% drop in average spending, optimism remains high, with 91% believing in the art market's potential. Notably, 44% of artworks in collections are by women artists, reflecting a cultural shift towards diversity and community engagement in the art world.
Artuu Magazine
UBS AG DEU IDN SGP ITA TWN USA MEX GBR JPN HKG BRA CHN CHE FRA Dr. Clare McAndrew Show more
TradFi, Market Report
16:35 24.10.2024

high-net-worth individuals continue art spending despite market challenges

High-net-worth individuals (HNWIs) continue to invest in art and antiques, with median spending stabilizing at $50,000 in 2023 and $25,555 in the first half of 2024. The share of works by female artists reached 44%, and 52% of expenditures were on new and emerging artists. Optimism about the global art market rose, with 91% of HNWIs expecting positive performance in the next six months.
Art Basel
United States Dollar UBS AG TWN FRA DEU IDN GBR SGP HKG BRA CHN USA MEX JPN ITA CHE Dr. Clare McAndrew Show more
TradFi, Market Report
11:08 24.10.2024
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